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20130112
20130112
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Search Results 0 to 14 of about 15 (some duplicates have been removed)
CNN
Jan 12, 2013 10:00am PST
limbaugh. >> that's right, rush. the debt ceiling was created so that congress wouldn't need to constantly authorize the treasury to borrow more money. raising the debt ceiling doesn't authorize any new spending. it authorizes payment. it does not increase deficits. it just allows the treasury to pay for the things that the u.s. government has already bought. if congress doesn't raise the debt ceiling, treasury won't be able to pay the bills and the u.s. government will start defaulting on some of its obligations. here is what happens for instance on february the 15th of this year. the federal government will take in an estimated $9 billion in revenue. that's the good news. but compare that to the $52 billion in bills that it will need to pay, everything from interest on the debt to pay for members of the military, the bipartisan policy center estimates that roughly 40% of the bills for the month would go unpaid. now what's the consequence of not paying? the truth is nobody really knows since it's never happened before, but you try telling american express you're not paying your
MSNBC
Jan 12, 2013 5:00am PST
first. if they do go over -- if they don't vote to raise the debt ceiling, there will be consequences. >> absolutely. >> there's no disagreement about that, right? >> clearly. >> yeah. >> one of the arguments that republicans and sort of apologists for the house gop frequently make is that well, you know, this whole idea of a default and we've taken ten times more revenue every day than we pay in interest payments which is not technically true. there are days we don't take in as much revenue as there are interest payment that's day p it's a discussion about whether we're going to pay past promises or not. let's say we wer're not going t default on the system, we're a rich country debating are we going to honor our promise that's we've already made which is already preposterous. it's not this super soaker-nerf thing. it's a real threat of not paying our bills. this is a real situation. >> it is a real threat? >> you know, i think that it certainly not a threat that is priced into the market today. >> so the market is pricing it in but this is a bluff? >> i think the market thinks it's a silly conversation in washington. >> i'm not talking about the coin. i'
CNBC
Jan 11, 2013 7:00pm EST
want him to use any means necessary to raise the debt ceiling without republican house spending cuts. that's right. cnbc's eamon javers has the details. >> reporter: let me get right to exactly what that quartet of senators said. in their letter to president obama which was viewed widely as shoring up his left flank in the political debate over the debt ceiling. what they wrote was "we believe you must be willing to take any lawful steps to ensure that america does not break its promises and trigger a global economic crisis without congressional approval, if necessary." now the signers of this letter were harry reid, dick durbin, chuck schumer and patty murray. speaker boehner said "senate democrats cannot ignore their responsibilities for political convenience. and the american people will not tolerate an increase in the debt limit without spending cuts and reforms." larry, let me tell you what i think is going on here. i think these democrats are trying to send a signal both to the white house but also to republicans involved in this debate that they would like to see or be comfortable with the presiden
MSNBC
Jan 12, 2013 9:00am PST
anywhere and doesn't address the problems we all face as a nation right now with the debt ceiling looming over us currently. >> hogan, to take it even a step further you say it doesn't get us anywhere, doesn't face the problems we face as a nation. but doesn't it also taint all the gop? >> it doesn't help. i don't know that it taint all the gop. but look, no one's really covering the fact that she put this out. i mean i even google searched it today. and the stories were all several days old. it's not something that the press is out there chapmpioning because they know it's not going anywhere. but the proposals and bills that happen all the time and former congressman knows this, there are a lot of symbolic votes out there so they can go back to their districts and say hey we fought for this. we did. this they know it's not going anywhere. she has polling that shows it's popular at home. that's why she's doing it probably. >> with an overall approval rating of like 14% for congress you would think you would think twice before doing certain things. admiral, the president received a
CNN
Jan 12, 2013 9:00am PST
cause this kind of fight with the president? not right now with the debt ceiling and bigger issues looming. >> what do you think of jack lew? he's to replace tim geithner. seems that we're on the verge of a different kind of philosophy now. >> yeah. i think what's interesting is barack obama is getting to people who are closer to him. jack lew used to be chief of staff. obama's like, look, my first term i was getting all the people to make america happy. now i'm getting people to do what i want them to do. a lot of people didn't like how fiter in did the job so obama is putting his own thumb on this one. >> people said he's too much like the president or backing his policies. i thought isn't that why you pick people for your cabinet? >> exactly. that's what barack obama wants to do. he is now safe. he doesn't have to worry about running ever again. so he's like, look, i'm going to put my stamp on america whether you like it or not. >> a lot has been said about this, that in many ways the new cabinet, the high posts are older white men, not reflective of american society. there have
MSNBC
Jan 12, 2013 12:00pm PST
. you can imagine an agreement where the debt ceiling is increased and some tax revenue is raised and some tax increases and spendsing cuts are available and there's some possibility, and some compromise. and something like that. so right now we're in these -- as we are watching all of the time, the posturing stages. i will not negotiate and in reality, everyone has to negotiate and there is room for, promyself here. we're hearing fresh voices, jonathan and freshman senator fisher, speaking out and calling for spending cuts and i want to play it for everybody. take a listen. >> the president will soon ask congress to raise the nation's debt limit again. i believe we can increase the borrowing limit without increasing the out of control spending. to cut spending we must find ways to reduce the cost of social security, medicare and medicaid. the primary drivers of our national debt. >> so jonathan, do you think the boehner rule will go into effect and entitlement reform will be a target. >> that's certainly what john baner and the rest of the republicans in congress hope happens. there's sort of a fl see here in the dollar for are dollar idea which is when the debt limit's being raised, that's an immediate need for money and
FOX News
Jan 12, 2013 7:30am PST
16.4 trillion dollar debt ceiling next month. well, the flu outbreak reaching epidemic levels. the flu is now widespread in 47 states, look at this map right now. everywhere, but california, hawaii and mississippi, but the biggest concern is that the vaccine supply is already start to go run low. the fed say it's killed 20 children, no count yet how many adults have died. i'm kelly wright, now back to cavuto on business for the latest headlines, log on to foxnews.com. . >> neil: all right, these aren't jobs from the movie outbreak. a triage unit at a pennsylvania hospital, more are going up for treating the latest flu cases and it's not just hospitals across america that are feeling rundown. so is the american workplace and now workers are afraid to call in sick out of fear of losing their jobs, so that could be making that flu outbreak worse. >> absolutely. unemployment still at 7.8% and i think that managers in companies far and wide do enough to tell people to stay at home. but i think that fear is right and just. people are in deep, deep fear of getting fired. and so-- >> but they're afraid of guys like adam, taking an inch and running a m
FOX Business
Jan 11, 2013 11:00pm EST
will try to unilaterally raise the debt ceiling without approval of congress. and that is the scuttlebutt right now in washington, that the president is simply going to do it whether congress authorizes that extension or not. neil: you know, sabrina, it's odd that this occurring the same week we saw the movie "lincoln" honored with 12 oscar nods. of course, a lot of people point to the fact that abraham lincoln, you know, habeas corpus went way after and way beyond what constitutional powers he was granted, and critics say this president is, essentially, doing the same. i always remind people with this flippant comment, i knew abraham lincoln. abraham lincoln was kind of an historical friend of mine. this guy's no abraham lincoln, nor are the circumstances the same. what do you say? >> you're exactly right. the difference is abraham lincoln had his priorities in order, and one of the real problems with president obama is his priorities seem to be a mess. instead of talking about spending control, we're talking about gun control. instead of talking about solid, long-term economic solutions to help t
FOX News
Jan 12, 2013 10:00am PST
fiscal cliff. we've known about the debt ceiling, we've known about all of these things, so the reason why, jamie, the president's putting more emphasis on immigration and putting more emphasis on other things and gun control, not saying that that's not important, he can't stand on his policies of the past. >> jamie: but he did campaign on those things and i know he wants to fulfill those promises, but angela, is he not in touch with the american public sitting home right now in a chair saying when am i going to go back to work? >> he's out of touch with the american public, but it's never been about the american public, it's been about the liber liberal agenda, president obama's national agenda and controlling the dialog. with the mainstream media. and i believe that americans will speak up and as we have wall street being protested against, i think this administration will be protested against when people cannot find jobs. >> jamie: julie. i know you would disagree and say that the administration is addressing these issues and wants to push harder on a jobs agenda, but if the preside
PBS
Jan 12, 2013 5:00am PST
that's your term, "to wimp out" when it matters. >> yeah. the 2011 debt ceiling fight was deeply disheartening because he should not have negotiated on the debt ceiling at all. same argument as now. this is not how you do it. it is not a legitimate tactic of politics to threaten to destroy the country if you don't get what you want. and people who make that demand have no standing. you should not give them anything. but he did. he actually did, in fact, make some significant concessions on spending, in order to get a rise in the debt limit. he blinked a little bit on the fiscal cliff. not as badly as some of us feared, but he did not, in fact, hold out for the full revenue package. and so, some of us are worried. now, i have to say, i mean, i'm reading my own stage directions here. people like me are, in part, going after him, warning about the wimping out thing in order to turn that into a self-denying prophesy. that the idea is to make a situation where the president will be aware what people will say about him if he does give in here so it doesn't happen. >> more than many eco
Search Results 0 to 14 of about 15 (some duplicates have been removed)